News
April 17, 2015
Party City announces pricing of its Initial Public Offering
On April 15, Party City announced the pricing of its initial public offering of 21,875,000 shares of common stock at $17.00 per share. The company's shares are expected to begin trading on the New York Stock Exchange on April 16, 2015 under the symbol “PRTY.”
The underwriters of the offering will have a 30-day option to purchase up to an additional 3,281,250 shares of common stock from Party City at the initial public offering price, less underwriting discounts and commissions. The company intends to use the net proceeds of the offering primarily to repay outstanding indebtedness, including all or a portion of the senior PIK toggle notes that mature on August 15, 2019.
Goldman, Sachs & Co., BofA Merrill Lynch, Credit Suisse and Morgan Stanley are acting as lead book-running managers and representatives of the underwriters in the offering. Barclays, Deutsche Bank Securities and J.P. Morgan are also acting as book-running managers for the offering. William Blair, Stephens Inc. and Telsey Advisory Group are acting as co-managers for the offering.
The offering of these securities will be made only by means of a prospectus, a copy of which may be obtained from Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, by calling toll-free 1-866-471-2526 or by emailing [email protected]; from BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attention: Prospectus Department or by emailing [email protected]; from Credit Suisse, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, by calling toll-free 1-800-221-1037 or by emailing [email protected]; or from Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.
The registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
